The federal government is launching a five-year plan to organize and grow Pakistan’s $450 billion gemstone industry, aiming to bring billions of dollars’ worth of precious stones into formal trade channels. The move is expected to boost exports, create jobs, and modernize a sector that has long operated informally.
Pakistan is rich in gemstones, including 200 million carats of rubies and 70 million carats of emeralds, along with many other valuable stones. Despite this massive potential, much of the trade has remained unregulated, resulting in lost revenue and inefficiencies.
Under the new plan, around 610 exporters will benefit over five years, gaining access to international exhibitions and global markets. The strategy will also improve registration, compliance, and traceability across the sector, making the trade more transparent and reliable.
A central authority will be established to oversee business registration, coordinate with provincial governments, and support exporters. This body, including both federal and provincial representatives, will act as the main custodian of Pakistan’s gemstone policy.
Additionally, an office will be set up to ensure the safe return of unsold export consignments, while electronic payment facilities will be introduced to simplify transactions and improve transparency.
To strengthen legal trade and modernize the industry, six working groups have already been formed. These groups will focus on banking and financial reforms, refunds for unsold goods, modern mining practices, and streamlined business registration.
Authorities say that better registration and traceability could generate over $60 million in added value for the industry. However, outdated processing methods are still a challenge, causing up to 70% loss in gemstone value, making modernization a key priority for the plan.
